Verra Mobility (NASDAQ:VRRM) Stock Rating Lowered by JPMorgan Chase & Co.

Key Points

• JPMorgan downgraded Verra Mobility from “neutral” to “underweight,” contributing to a consensus “reduce” rating. Analysts’ average price target is $6.83, with eight holds and two sells.
• Verra Mobility shares fell 4.3% to open at $2.68, near the company’s 12-month low of $2.52 and well below its 12-month high of $23.50.
• The company exceeded quarterly expectations, reporting $0.36 in EPS versus $0.26 expected and $258.88 million in revenue versus $240.57 million forecast, though revenue declined 1.2% year over year.

Verra Mobility (NASDAQ:VRRM - Get Free Report) was downgraded by equities researchers at JPMorgan Chase & Co. from a "neutral" rating to an "underweight" rating in a report issued on Tuesday, Briefing.com reports.

Other equities research analysts also recently issued reports about the company. Weiss Ratings reissued a "sell (d)" rating on shares of Verra Mobility in a research note on Monday, September 14th. Morgan Stanley set a $5.00 price objective on Verra Mobility in a research report on Thursday, August 6th. Zacks Research raised Verra Mobility from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 13th. Finally, UBS Group upped their target price on Verra Mobility from $4.00 to $6.00 and gave the company a "neutral" rating in a report on Friday, August 7th. Eight equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus price target of $6.83.

Verra Mobility Trading Down 4.3%

NASDAQ VRRM opened at $2.68 on Tuesday. Verra Mobility has a twelve month low of $2.52 and a twelve month high of $23.50. The company has a debt-to-equity ratio of 4.58, a quick ratio of 1.96 and a current ratio of 2.06. The stock has a market cap of $407.31 million, a price-to-earnings ratio of 11.17 and a beta of 0.42. The firm's 50 day moving average price is $3.39 and its two-hundred day moving average price is $9.49.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last announced its earnings results on Friday, October 30th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.10. The company had revenue of $258.88 million for the quarter, compared to the consensus estimate of $240.57 million. Verra Mobility had a net margin of 4.40% and a return on equity of 64.39%. The company's revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.37 EPS. Equities analysts anticipate that Verra Mobility will post 1.10 EPS for the current year.

Institutional Investors Weigh In On Verra Mobility

Several large investors have recently made changes to their positions in VRRM. Everhart Financial Group Inc. bought a new position in Verra Mobility during the third quarter valued at approximately $32,000. Parametrica Management Ltd bought a new stake in Verra Mobility in the third quarter worth approximately $37,000. Kure Advisory LLC acquired a new position in shares of Verra Mobility during the 3rd quarter worth $39,000. HB Wealth Management LLC acquired a new position in shares of Verra Mobility during the 2nd quarter worth $43,000. Finally, Versant Capital Management Inc increased its stake in shares of Verra Mobility by 190.4% during the 2nd quarter. Versant Capital Management Inc now owns 10,378 shares of the company's stock worth $44,000 after purchasing an additional 6,804 shares during the last quarter.

Verra Mobility Company Profile

Verra Mobility Corporation NASDAQ: VRRM provides smart mobility technology and services designed to improve transportation safety, efficiency and compliance. The company develops cloud-based solutions that help government agencies, commercial fleets and mobility providers manage transportation-related processes and data.

Its government solutions include automated safety enforcement programs for red-light, speed, school-zone and bus-lane violations, as well as technology supporting school bus safety initiatives.

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